I Can’t Restore Cedi Value In 100 Days- Mahama

Flagbearer of the National Democratic Congress (NDC), John Dramani Mahama has denied a comment allegedly attributed to him that he will ensure the strength of the local currency within 100 days if voted back into power in the 2024 general election.

According to him, the stabilization of the Cedi and the economy are his major priorities to put the country on a sound footing, adding that the next NDC government will cut government expenditure, as well as boost revenues by expanding the tax net.

Speaking at the 8th CEOs Summit held in Accra on Monday, May 27, 2024, the former President said “The number one priority will be stabilizing the economy and restoring a stable currency by launching an urgent economic recovery and fiscal consolidation plan following a national economic dialogue to be held within one hundred days of assumption of office.”

He continues “We will do this by pruning the huge government expenditures, preventing waste and corruption, and boosting revenues by expanding the tax net. We will simplify VAT and streamline its collection. We will abolish the e-levy and some taxes that have become burdens on businesses and households. We will not burden you with endless tax audits and harass you with EOCO’’.

“We will continue digitalizing our revenue collection and payment systems. By 2028, we aim to phase out cash as a form of payment for all government services. We will also entrench the use of POS devices in transactions to make tax and levy collection more transparent. Our economy has long relied on a few key sectors, such as gold, cocoa, and, more recently, oil, which we call the Guggisberg economy,” he added.

Denies

However, after receiving a bashing from the public, the campaign team has denied the statement made by former President John Mahama.

According to the Special Aide & Spokesperson of the former President, Joyce Bawah Mogtari in a statement, said the publications quoting the National Democratic Congress flagbearer John Dramani Mahama as promising to stabilize the Ghana Cedi in I00 days is false.

In the statement, she said ‘’Mr Mahama, with a deep understanding of the economic challenges confronting the country today, did not promise to stabilize the Ghana Cedi within 100 days. Instead, he laid out a comprehensive plan in his remarks at the 8th Ghana CEO Summit to address the challenges, demonstrating his grasp of the situation.

Interestingly making the U-Turn on the statement the former President read, his campaign team claimed ‘’To quote him, Mahama stated our number one priority will be stabilizing the economy and restoring a stable currency. We will launch an urgent economic recovery and fiscal consolidation plan following a national economic dialogue to be held within one hundred days of assumption of office”.

The statement said ‘’He also emphasized the need for fiscal discipline and responsible economic management to achieve currency stability. He highlighted measures such as pruning government expenditures, preventing waste and corruption, and boosting revenues by expanding the tax net’’.

Additionally, he mentioned simplifying the VAT and streamlining its collection, abolishing the e-levy, and reducing some burdensome taxes on businesses and households.

‘’The Mahama 2024 Campaign reiterates its unwavering commitment to transparent and responsible communication with the Ghanaian people. We urge the media to accurately represent the candidate’s statement in their reporting to ensure the public is well informed’’ the statement added.